European markets rise for third day

ASX SPI Futures up 15 points

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U.S. stocks advanced amid speculation Britain will vote to stay in the

European Union, as energy producers and technology companies led

the S&P 500 Index to a back-to-back gain.

Equities climbed after zigzagging throughout the day, bolstered by a

third-straight increase for oil and gas companies, the longest in two

months even as crude prices dropped.

The S&P 500 climbed 0.3 percent to 2,088.90 at 4 p.m. in New York,

bringing its two-day gain to 0.9 percent.

European stocks capped their biggest three-day advance in almost 10

months amid optimism Britons will vote to stay in the European Union

in Thursday’s referendum and as the euro fell. The Stoxx Europe 600

Index added 0.7 percent at the close.

Stocks have climbed 5.8 percent in three sessions after surveys

showed the U.K. campaign to stay in the EU is gaining ground.

U.S. & European Stocks Advance Ahead of “Brexit” Vote

YESTERDAY IN THE INTERNATIONAL MARKETS Global Ticker Daily Change

S&P 500 +0.27%

Dow Jones +0.14%

NASDAQ +0.14%

STOXX 600 +0.70%

FTSE 100 +0.36%

DAX30 +0.54%

Crude Oil +0.46%

Gold -1.70%

The S&P/ASX 200 extended this week’s gains, rising 18 points or 0.3%

to finish at 5274 points. The market opened higher following a strong

lead of international markets and powered higher in the afternoon,

despite some selling around noon.

The sectors were a mixed bag yesterday as Energy and Materials

declined, but Healthcare, Information Technology and Utilities rose.

Amongst the banks, ANZ was the strongest performer rising 1.6%

while NAB fell 0.3%. The two largest miners, BHP and RIO declined

1% and 1.3% respectively.

The minutes of the Reserve Bank of Australia (RBA) struck a pretty

upbeat tone on the economy, but pointed to weak inflation, leaving few

clues to the central bank's next move. Overall it appears that investors

believe that the remarks were “in line with expectations”.

There are no economic news due today.

ASX Edges Higher; Few Clues from RBA Minutes

THE ASX YESTERDAY IN REVIEW AUS Ticker Change

ASX200 +0.33%

ALL ORDS +0.33%

CBA +1.19%

BHP -0.95%

WBC +0.71%

NAB -0.31%

RSG +5.65%

SDF +0.48%

MLD -1.22%

DAILY PRICE ACTIVITY AUSTRALIA

ASX200 price action yesterday

UPCOMING DIVIDENDS

Courtesy of http://www.morningstar.com.au/Stocks/UpcomingDividends

Tasty dividends & distributions

DATE CODE COMPANY ANNOUNCEMENTCODE COMPANY NAME EX DIVIDEND PAY DATE AMOUNT FRANKING %

AOG Aveo 29 Jun 2016 30 Sep 2016 8.00 0.00

ARF Arena REIT 29 Jun 2016 11 Aug 2016 2.78 0.00

CQR Charter Hall Retail 29 Jun 2016 31 Aug 2016 14.10 0.00

CZZ Capilano Honey 29 Jun 2016 29 Jul 2016 40.00 100.00

GHC Generation Healthcare 29 Jun 2016 31 Aug 2016 4.42 0.00

HPI Hotel Property Investments 29 Jun 2016 09 Sep 2016 9.30 0.00

IMFHA BND 3M 06-19 E 29 Jun 2016 08 Jul 2016 161.64 --

LEP ALE Property 29 Jun 2016 05 Sep 2016 10.10 0.00

MBLHB HY 3M PER Q ST 29 Jun 2016 15 Jul 2016 99.48 --

RFF Rural Funds 29 Jun 2016 29 Jul 2016 2.23 0.00

RFP -- 29 Jun 2016 29 Jul 2016 2.51 100.00

SYD Sydney Airport 29 Jun 2016 12 Aug 2016 15.00 0.00

WHATS HOT?

DATE CODE COMPANY ANNOUNCEMENT

WHATS NOT?

IOF.asx - steaming hot SLM.asx - cooling down

Investa announced continued strong leasing

momentum with 7,377sqm of leases completed

across its Brisbane portfolio. IOF has gained

11.8% during the past 12 months and is trading

at the highest level since the GFC. Also,

shareholders of Investa Office Fund recently

rejected Dexus Property Group’s attempted

$2.5 billion takeover.

Marketing services company Salmat Limited

posted soft half year results as revenue

contracted 7% following a strategic review.

Salmat struggles with margins amid high costs

and complexity in the organisation, operating

with unsustainable structures. SLM has lost

43% of its value in 2016.

ECONOMIC NEWS

What to look out for:

DATE CODE COMPANY

No economic news for

Australia today.

U.S. home sales data for

May to be published

overnight

UK Referendum to be

held on Thursday (BST)

NEWSWORTHY

This caught our attention..

DATE CODE COMPANY ANNOUNCEMENTTeranga Gold to Acquire Gryphon Minerals

for U$63 Million

Canadian gold miner Teranga Gold Corporation (ASX:TGZ)

announced this morning that the company will acquire Gryphon

Minerals Limited (ASX:GRY) for a total consideration of

approximately U$63 million.

The acquisition will be done by way of a “scheme of arrangement”.

Each Gryphon share will be exchanged for 0.169 Teranga share on

the Toronto Stock Exchange (TSX) or Teranga CDI on the ASX.

Gryphon Minerals is focused on gold mining in Burkina Faso. The

company has a 90% ownership in the Banfora gold project, a high

grade open pit mine located in Burkina Faso, West Africa which has

a measured and indicated gold mineral resource of 2.98 million

ounces. The inferred gold mineral resource currently stands at 0.66

million ounces.

Click Here to Read the Full Story

LATEST UPDATE FROM WISE-OWL

Kogan.com Ltd (KGN)

CODE COMPANY ANNOUNCEMENTFloat Watch Report: Kogan.com Ltd (KGN)

ASX:KGN

Kogan.com Ltd ("Kogan", "the Company") is an Australian e-commerce

company focused on retail. The company's primary asset is intellectual

property ("IP") surrounding the "Kogan.com" brand, through which the

company earns revenue via the sale of goods to domestic consumers.

The company sells over 28,000 private label and third party products

and had over 52 million website visits in 2015.

Kogan offers transitional exposure to demand for online retail products.

We are attracted to the company's revenue growth trajectory, customer

reach and operational leverage. Primary hurdles include earnings

volatility and regulatory risks. While Kogan does not intend to pay a

dividend, revenue and earnings growth stand as the primary value

drivers. With FY15 EBITDA margins below 1% there is scope for growth,

however dominant shareholding of management and lack of earnings

growth record may dampen interest in the float.

IPO | Offer Price: $1.80 | Listing: 30th June | Rating: 2/5

View Full Report

OUR VIEWS AT A GLANCE

Find below a summary of Wise-owl’s current market views

CODE COMPANY ANNOUNCEMENT

The ASX 200 has potential to outperform international markets in 2016/17

We continue to focus on small-mid cap stocks

There are individual opportunities on the ASX 200

We favour the risk/reward ratio for gold miners

We see value in European equities

We see little upside for US stocks

A WISE-OWL PUBLICATION

Presented by Simon Herrmann

DATE CODE COMPANY ANNOUNCEMENT

Wise-owl.com

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